As auditing shifts from an outsourced function to a cornerstone of internal control, audit directors need an updated manual that reflects the radical changes the internal audit profession recently experienced in order to establish efficient processes for conducting successful audits. Managing the Audit Function, Third Edition, provides a blueprint for the creation of an effective procedures manual for an internal audit department.
A new chapter defines internal control, risk assessment, control strategies, and malicious activities. This subject should be studied and understood not only by internal auditors but by all managers and board members as well. The recent developments with accounting irregularities demonstrated a clear need for an education on the complex subject of internal control.
By implementing the methods recommended in Cangemi and Singleton’s authoritative guide, auditors can play an integral role in improving overall corporate performance. Among other services, the Third Edition:
- Provides a discussion of what world-class audit departments are doing with Baldridge criteria, balanced scorecard, and other continuous improvement techniques
- Contains unique matrices that describe each component of the audit function in detail, from administration to performance to reporting
- Includes standards for information systems auditing
- Offers a discussion of quality assurance and marketing
- Delivers a new section on the internal control system, which includes models, tools, and techniques, that should be read by all senior management and board members
About the Authors
Michael P. Cangemi, CPA, CISA, is President and Chief Executive Officer of Aigner Group, a leading wholesale/retail firm that designs and produces quality branded leather goods. Prior to joining Aigner Group, he was partner and national director of EDP auditing for BDO Seidman, where he founded and directed a service area for internal audit services and was general auditor of Phelps Dodge Corporation.
Tommie Singleton, CPA, CMA, CISA, CITP, is Professor and Director of the Development of Computer Accounting Information Systems and of the Forensic Accounting Program at the University of North Alabama.
